Fire and Casualty Clause Samples

Fire and Casualty. If the Premises are damaged by fire or other serious disaster or accident and the Premises becomes uninhabitable as a result, Tenant may immediately vacate the Premises and terminate this Agreement upon notice to Landlord. Tenant will be responsible for any unpaid rent or will receive any prepaid rent up to the day of such fire, disaster or accident. If the Premises are only partially damaged and inhabitable, Landlord may make full repairs and will do so within a prompt and reasonable amount of time. At the discretion of Landlord, the rent may be reduced while the repairs are being made.

Fire and Casualty. (a) If the Premises are damaged by fire or other casualty then in such event Landlord shall, in its sole discretion, either (i) enter and make the necessary repairs without affecting this Lease, or (ii) terminate this Lease by giving written notice thereof to Tenant within sixty (60) days of such fire or other casualty in which event Tenant shall pay the rent hereunder apportioned to the time of such damage and shall pay all other obligations of Tenant owing on the date of termination, and Tenant shall immediately surrender the Premises to Landlord. (b) In the event the Building is so badly damaged or injured by fire or other casualty, even though the Premises may not be affected, that Landlord decides, within ninety (90) days after such destruction, not to rebuild or repair the Building (such decision being vested exclusively in the discretion of Landlord), then in such event Landlord shall so notify Tenant in writing and this Lease shall terminate as of the date of damage in the notice from Landlord to Tenant, and the Tenant shall pay rent hereunder apportioned to the date of damage and shall pay all other obligations of Tenant owing on the date of damage, and Tenant shall immediately surrender the Premises to Landlord. (c) In the event the Lease is not terminated, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and/or the Premises to substantially the same condition as existed immediately prior to the date of damage. All rent shall ▇▇▇▇▇ for the portion of the Premises that is not usable by Tenant from the date of damage until substantial completion of the repairs and restoration required to be made by Landlord pursuant to this Paragraph. [****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED.

Fire and Casualty a. If the Leased Premises should be totally destroyed by fire, tornado or other casualty, or if the Leased Premises should be so damaged so that rebuilding or repairs cannot reasonably be completed within one hundred eighty (180) working days after the date of written notification by Lessee to Lessor of the destruction, this Lease shall terminate and the rent shall be abated for the unexpired portion of the Lease, effective as of the date of the written notification. a. If the Leased Premises should be partially damaged by fire, tornado or other casualty, and rebuilding or repairs can reasonably be completed within ninety (90) working days from the date of written notification by Lessee to Lessor of the destruction, this Lease shall not terminate, but Lessor may at its sole risk and expense proceed with reasonable diligence to rebuild or repair the building or other improvements to substantially the condition in which they existed prior to the damage. If the Leased Premises are to be rebuilt or repaired and are untenable in whole or in part following the damage, and the damage or destruction was not caused or contributed to by act or negligence of Lessee, its agents, employees, invitees or those for whom Lessee is responsible, the rent payable under this Lease during the period for which the Leased Premises are untenable shall be adjusted to such an extent as may be fair and reasonable under the circumstances. In the event that Lessor fails to complete the necessary repairs or rebuilding within ninety (90) working days from the date of written notification by Lessee to Lessor of the destruction, Lessee may at its option terminate this Lease by delivering written notice of termination to Lessor, whereupon all rights and obligations under the Lease shall cease to exist.

Fire and Casualty. If the premises are damaged by fire or other casualty, Landlord may cause the damage to be repaired and the rent will be abated for such period of time as premises remain untenantable, but if the premises are destroyed or so damaged that Landlord shall decide that it is inadvisable to repair same, this Lease shall cease and terminate, and rental shall be adjusted to the date when such fire or casualty occurred. Tenant agrees to release Landlord from any and all claims for loss, damage, or inconvenience arising from such fire or casualty. None of Tenant’s property is insured by Landlord, and insurance for Tenant’s property is Tenant’s responsibility to obtain.

Fire and Casualty. 29 14.1 Insurance Proceeds........................................ 29 14.2 Reconstruction in the Event of Damage or Destruction Covered by Insurance...................................... 29 14.3 Reconstruction in the Event of Damage or Destruction Not Covered by Insurance...................................... 30 14.4 Lessee's Personal Property................................ 30 14.5 Restoration of Lessee's Property.......................... 31 14.6 No Abatement of Rent...................................... 31 14.7 Damage Near End of Term................................... 31 14.8

Fire and Casualty. Lessor shall maintain in full force from the date of this Lease through the duration of the Lease Term a policy or policies of insurance upon the Building insuring against all risks of physical loss or damage under an "All Risk" coverage endorsement in an amount at least equal to the full replacement value of the property insured, with an agreed amount endorsement to satisfy co-insurance requirements, as well as insurance against the breakdown of boilers and other machinery as customarily insured against for comparable buildings in the vicinity of the Building. Lessor may satisfy all or any portion of this obligation through self-insurance or by means of a blanket policy covering locations in addition to the Building. Upon written request by Lessee not more than one (1) time per calendar year, Lessee shall provide certificates of such insurance to Lessee. To the extent to which the same are available on commercially reasonable terms, all policies of insurance maintained by Lessor shall contain the same waiver of subrogation provisions for the benefit of Lessee as Lessee is required to obtain in its insurance policies for the benefit of Lessor. Lessor shall have no obligation to insure any of Lessee's Personal Property, or any of "Lessee's Work" (as hereinafter defined), or any other alterations, additions, or improvements made or constructed by Lessee. If at any time during the Lease Term, the Leased Premises or a substantial portion of the Building shall be damaged or destroyed by fire or other casualty, Lessor shall give written notice to Lessee within ninety (90) days after the occurrence of such damage or destruction whether Lessor elects, in its sole discretion, (i) to terminate this Lease or (ii) to repair and reconstruct the Leased Premises and the Building (in which case Lessor shall include with such notice a statement from Lessor's architect, engineer or contractor stating such person's good faith estimate of the time required to complete such repairs and restoration). If such estimate exceeds twelve (12) months from the date of Lessor's notice to Lessee, then Lessee may, by written notice given to Lessor within thirty (30) days after Lessee's receipt of Lessor's notice, terminate this Lease effective not more than thirty (30) days after such notice is given to Lessor. If Lessor elects to repair and reconstruct the Leased Premises and the Building, and this Lease is not terminated by Lessee pursuant to the provisions of the immediately preceding ...

Fire and Casualty. 14.1 In the event of any damage to or destruction of the Premises by fire or other occurrence so that twenty percent (20%) or more of the building floor area comprising the Plant or the Premises becomes untenable or unfit for occupancy, then within thirty (30) days after the date of such occurrence, either Landlord or Tenant shall have the right to elect by written notice to the other to cancel this Agreement as of the date of such damage or destruction, in which event the rent and additional rent shall be apportioned to such date. If neither party duly elects to cancel this Agreement pursuant to the immediately preceding sentence, then Landlord shall repair and restore the Premises to substantially their same condition prior to such occurrence using reasonable speed and dispatch and the rent and additional rent shall be equitably abated as set forth in the following Section from the date of such occurrence until the date when repairs are completed. 14.2 In the event of any fire or other occurrence which damages or destroys less than twenty (20%) of the building floor area comprising the Premises, Landlord shall repair and restore the Premises with reasonable speed and dispatch, and the rent and additional rent shall be equitably abated in the same proportion that the area of the Premises which shall be untenable of unfit for occupancy by Tenant in the conduct of its business represents to the total area of the Premises, from the date of such destruction until the completion of such repairs. 14.3 In the event that a fire or other occurrence as provided in Section 14.2 happens during the final 180 days of the term hereof, or any extension periods, Landlord shall not be obligated to repair and restore the Premises, and this Agreement shall remain in full force and effect, subject to an equitable abatement of rent, fees and additional rent, until the expiration of the term hereof. 14.4 In no event shall Landlord have any liability or obligation to Tenant with respect to the repair or restoration of any property of Tenant located upon the Premises due to any fire or other occurrence. In the event this Agreement is cancelled pursuant to Section 14.1, then Tenant shall remain obligated promptly to remove or eliminate any nuisance or dangerous, harmful or unhealthful condition then existing on or about the Premises due to its use thereof.

Fire and Casualty. 68 13.1 Restoration Following Fire or Other Casualty.................................................. 68 13.1.1 Following Fire or Casualty........................................................... 68 13.1.2 Procedures........................................................................... 68 13.1.3 Disbursement of Insurance Proceeds................................................... 69 13.2 Disposition of Insurance Proceeds............................................................. 72 13.2.1 Proceeds To Be Released to Pay For Work.............................................. 72 13.2.2 Proceeds Not To Be Released.......................................................... 73 13.2.3 Lessee Responsible for Short-Fall.................................................... 74 13.3

Fire and Casualty. This Lease will terminate upon a total destruction of the Premises or building containing the Premises due to fire or other casualty and rent will be apportioned as of such date. In the event the Premises or the building containing the Premises are damaged by fire or other casualty so as to render the Premises untenantable, rent will be abated until the Lessor shall have restored the same to substantially their former condition. Provided, however, that if Lessor elects not to repair such damage, or if such repairs shall not have been completed within 60 days, either party may terminate this Lease and rent will be apportioned as of the date of termination.